Question

Suppose that the demand function for a consumer item is given by q = D(p) = 411 - 3p where p is the price in dollars for one item and q is the number of units. If the marginal revenue is 5 dollars per each item that's made and sold, then to the nearest dollar, what is the total revenue that will be generated?

Answer 1

revenue = price * quantity, so
r = pq = (411-q)/3 * q = 1/3 (411q - q^2)
dr/dq = 1/3 (411-2q) = 5
q = (411-15)/2 = 198
so now figure r(198)